Methodological aspects of applying mathematical modeling in making managerial decisions

Abstract

This paper considers the use of mathematical models in management. In today's world, managerial decision making is becoming an increasingly complex process and requires the use of various tools and methods. Any company makes decisions on a continuous basis, since the management process is continuous, and the content of management is determined by the content of decisions made. The author of this paper considers methodological approaches to the application of mathematical modeling in making managerial decisions based on data analysis and computational methods. Mathematical modeling helps analyze complex systems and processes, find optimal decisions, and predict the results. This paper describes the general algorithm of making a managerial decision and types of mathematical models that can be used in making managerial decisions. In addition, the paper presents an algorithm for applying mathematical modeling in making managerial decisions and considers an example of using mathematical modeling when solving a real problem. In conclusion, the author emphasizes the importance of applying a correct approach to the use of mathematical modeling in management and offers her recommendations. To achieve the maximum efficiency, it is necessary to choose the right methods and algorithms, as well as to have a sufficient amount of data for analysis. The article will be of interest to specialists in the field of management and economics, as well as to anyone who is interested in the use of mathematical methods in solving management problems.